equity credit line


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Synonyms for equity credit line

a loan secured by equity value in the borrower's home

References in periodicals archive ?
But a home equity credit line can be a boon if used judiciously.
Grandfathered home equity credit lines may present special problems.
"If you get a home equity credit line, you could even get a deduction for the interest."
If you're applying for a second mortgage or second-lien home equity credit line, the bank will not have to provide you appraisal materials, although you are still free to ask.
As a homeowner, there are several convenient financing options available including using a home equity credit line; taking out a second mortgage; or refinancing your first mortgage and cashing out your equity to purchase the fee.
If you're a careful spender, you may be able to save even more by consolidating your debt on a home equity credit line or a home equity loan.
* Home equity credit line: The loan becomes a line of credit you can tap.
The strong relationship between having a home equity credit line and high levels of income and remaining home equity can be seen when homeowners are grouped by level of income and home equity (table 6).
A home equity credit line, for instance, provides more flexibility for subsequent borrowing and might be more appropriate for handling repetitive credit needs, such as tuition expenses, even when rate comparisons seemed to favor a refinancing.
Widespread consumer interest in home equity credit line plans dates to 1986, when extensive promotion of such plans by financial institutions began.
Rates on some other loans, though, like credit cards and home equity credit lines, will likely rise, though probably only slightly as long as the Fed's rate hikes remain modest.
It is believed that about 3.3 million home equity credit lines totalling USD158bn are scheduled to reset between 2015 and 2018.
Beginning in Spring 2008, Bank of America, Citibank, JP Morgan Chase, Morgan Stanley and the now-defunct Countrywide and Washington Mutual cancelled or reduced home equity credit lines in various parts of the country, including in Oregon.
Low appraisals can also result in homeowners' home equity credit lines being seized, as happened to the owner of one 2,650-square-foot Manhattan apartment appraised at $1.475 million in 2005 and worth $600,000 today.
Spending overall from consumers may slow down for a number of reasons, including increased energy prices and an exhaustion of home equity credit lines that have been spent to the maximum by many consumers.